(Feb 4): Tankers moving crude from the Middle East to China charged the highest fees in more than two months this week, after tensions over Iran combined with tight vessel supply to drive up prices. Rates surged 62% on Friday, as fears of possible US-led military action against the Islamic Republic intensified. Last week’s speculation about escalating tensions between Iran and the US prompted a rush from charterers to secure vessels ahead of any potential supply disruption, shipbrokers said. On Tuesday, US President Donald Trump said Washington and Tehran are going ahead with talks after an American warplane shot down a drone in the Arabian Sea. Earlier, the US had said Iranian vessels and a drone had approached a US-flagged tanker transiting the Strait of Hormuz.

Source: The Edge Markets February 04, 2026 07:06 UTC